New Mineralised Copper Zone Discovered at Jervois
Brisbane, Feb 12, 2014 AEST (ABN Newswire) - KGL Resources (
ASX:KGL) (KGOLF:OTCMKTS) report that a new mineralised copper zone has been discovered at Jervois with the following highlights
- Further drilling at the northern end of the Reward zone continues to intercept significant copper mineralisation
- Extension drilling intersects a new second zone of copper mineralisation 50 metres east of the existing Reward resource
- Extension drilling planned to bring new zone into the Jervois Resource
Hole KJCD058 intersected the following intervals in the Reward zone
- 4m @ 1.47% Cu, 0.16% Pb, 0.11% Zn, 23.1g/t Ag, 0.26g/t Au from 278 m
- 14m @ 1.29% Cu, 0.71% Pb, 0.22% Zn, 28.2g/t Ag, 0.36g/t Au from 286 m
Including 7m @ 2.04% Cu, 0.23% Pb, 0.09% Zn, 42.2g/t Ag, 0.59g/t Au from 293 m
The hole was then extended further to the east and has intersected a second zone of mineralisation that does not outcrop which has been named East Reward. The centre of the lode contains three zones of massive and semi-massive chalcopyrite in veins from 407m. This is within a broad zone with stringers and dissemination of chalcopyrite as shown in Figures A and B (in link below) that extend for over 15m in the diamond tail for hole KJCD058. This new zone is approximately 50m east of the existing Reward resource and is interpreted to be a parallel vertical structure. The host rock is strongly altered, comprising coarse garnet and magnetite. This strong calc-silicate alteration, that includes garnet, has proven to be a good indicator of base metal mineralisation at Jervois, suggesting close proximity to mineralisation. Assay results for the East Reward intersection will be reported to the market when received.
Prior to drilling Hole KJCD058, Hole KJCD043 was extended eastward to test for the presence of East Reward based on results from several historical holes to the south (refer Figures 1 & 2 in link below). This hole was abandoned due to drilling gear lost down the hole but not before it had intersect some of the same alteration and mineralisation later observed in KJCD058. Assays for diamond tail KJCD043 are pending.
The Reward East position is virtually untested at depth and the lode remains open to the north with no drilling for 800m of strike. A traverse of RC holes drilled on the northern boundary of KGL Resources tenement in September 2013 intersected copper mineralisation and a broad zone of low-grade zinc mineralisation in calcsilicate altered rocks (KJC006 and KJCD004). A ground electromagnetic (EM) survey has now commenced and will cover the mineralised corridor north of Reward. East Reward and any EM targets identified will be drilled as part of the Phase 2 resource extension programme that will is planned to commence in March.
Simon Milroy, the Managing Director of KGL Resources, commented: “Discovery of a new copper zone so close to the existing Reward deposit and continuing to intercept good mineralisation north of Reward is a great result for this extensional drilling program. We now plan to re-enter and extend a number of historical holes that stopped short of intersecting the East Reward zone to bring the East Reward zone into the Jervois Resource.”
To View tables, diagrams and pictures, please visit:
http://media.abnnewswire.net/media/en/docs/76632-ASX-KGL-401799.pdf
About KGL Resources Ltd
KGL Resources (ASX:KGL) is an Australian mineral exploration company focussed on increasing the high grade Resource at the Jervois Copper-Silver-Gold Project in the Northern Territory and developing it into a multi-metal mine.
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